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Tencent Gives Loft to Alibaba's Orbit

By

Aaron Back

Aug. 13, 2014 6:51 a.m. ET

Chinese Internet stocks are back in the upper atmosphere. In planning for its landmark listing, online shopping giant Alibaba should be pleased.

In March and April, tech companies around the world were in a swoon. One of Alibaba's main Chinese Internet rivals, gaming and messaging giant Tencent, lost a quarter of its value. But it has since made back all those losses and more. In Tencent's case, optimism over its successful mobile...